Intrepid Potash (NYSE:IPI) Upgraded by ValuEngine to Sell

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ValuEngine upgraded shares of Intrepid Potash (NYSE:IPI) from a strong sell rating to a sell rating in a report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research lowered Intrepid Potash from a buy rating to a hold rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $4.92.

IPI stock traded down $0.06 during trading on Thursday, reaching $3.12. 413,463 shares of the company’s stock were exchanged, compared to its average volume of 464,693. The company has a quick ratio of 0.57, a current ratio of 1.62 and a debt-to-equity ratio of 0.08. Intrepid Potash has a 1-year low of $2.51 and a 1-year high of $4.41. The company’s fifty day moving average price is $3.30 and its 200-day moving average price is $3.40. The firm has a market cap of $426.26 million, a PE ratio of 34.67 and a beta of 1.26.

Intrepid Potash (NYSE:IPI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Intrepid Potash had a return on equity of 5.52% and a net margin of 10.78%. The company had revenue of $62.51 million during the quarter, compared to analyst estimates of $55.68 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Intrepid Potash will post 0.2 earnings per share for the current fiscal year.

In other news, Director Hugh E. Harvey, Jr. acquired 20,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $3.23 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the director now directly owns 231,972 shares in the company, valued at approximately $749,269.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Robert P. Jornayvaz III acquired 10,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was purchased at an average price of $2.90 per share, with a total value of $29,000.00. Following the acquisition, the chief executive officer now owns 2,099,144 shares of the company’s stock, valued at $6,087,517.60. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 121,896 shares of company stock valued at $364,099. Insiders own 27.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd lifted its holdings in shares of Intrepid Potash by 44.7% during the second quarter. WINTON GROUP Ltd now owns 300,087 shares of the basic materials company’s stock valued at $1,008,000 after purchasing an additional 92,687 shares during the last quarter. AE Wealth Management LLC lifted its holdings in shares of Intrepid Potash by 86.5% during the second quarter. AE Wealth Management LLC now owns 128,511 shares of the basic materials company’s stock valued at $432,000 after purchasing an additional 59,586 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in shares of Intrepid Potash by 103.3% during the second quarter. Quantitative Systematic Strategies LLC now owns 25,557 shares of the basic materials company’s stock valued at $86,000 after purchasing an additional 12,987 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Intrepid Potash by 25.4% during the second quarter. Aperio Group LLC now owns 29,856 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 6,045 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. purchased a new stake in shares of Intrepid Potash during the second quarter valued at $57,000. Institutional investors and hedge funds own 42.62% of the company’s stock.

About Intrepid Potash

Intrepid Potash, Inc produces and sells potash and langbeinite products in the United States and internationally. It operates through three segments: Potash, Trio, and Oilfield Solutions. The Potash segment offers muriate of potash or potassium chloride for use as a fertilizer input in the agricultural market; as a component in drilling and fracturing fluids for oil and gas wells, as well as an input to other industrial processes in the industrial market; and as a nutrient supplement in the animal feed market.

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